Italian Parliament Approves 2025 Budget With Key Tax Adjustments

According to PANews, the Italian Parliament has approved the 2025 budget just days before the year-end deadline, marking a significant victory for Prime Minister Giorgia Meloni. The budget, crafted by Meloni and Finance Minister Giancarlo Giorgetti, includes a tax reduction plan aimed at gaining voter support while adhering to European Union fiscal regulations. The government intends to reduce the national deficit to 3.3% of GDP next year and further decrease it below the EU's 3% limit by 2026. In a last-minute adjustment to the budget, the decision was made to maintain the cryptocurrency tax rate at 26% in 2025, with an increase to 33% in 2026, instead of the initially proposed 42%. Prime Minister Meloni has pledged tax cuts for middle and low-income groups, which is expected to strengthen her political position. However, this approach may slow the return to fiscal prudence as per EU standards.